Cooperation procedure in If P&C Insurance Company completed

SAMPO PLC          STOCK EXCHANGE RELEASE     23 November 2015 at 10:00 am

Cooperation procedure in If P&C Insurance Company completed

If P&C Insurance Company Ltd (Finland), a company belonging to Sampo Group, has completed the cooperation procedure, which began on 12 October 2015. The procedure involved 212 staff members at Commercial and Private business areas as well as internal audit of If P&C Insurance Company. As a result of the procedure, number of personnel in If P&C will decrease by 92 persons, of which 78 employment contracts will end by voluntary agreements, 11 by retirement arrangements and 3 by dismissals.

The cooperation procedure began because of the need for centralizing operations due to the growing demand for internet and telephone services for customers as well as to the increased use of automation.

On 30 September 2015 the number of employees in If P&C Insurance Company (Finland) was 1,727 and in the Nordic If P&C Insurance Group 6,224 people.

SAMPO PLC

Jarmo Salonen
Head of Investor Relations and Group Communications
tel. + 358 10 516 0030

For further information, please contact:

Timo Vuorinen
Managing Director, If Finland
tel. [phone]

Distribution:
Nasdaq Helsinki
The principal media
Financial Supervisory Authority
www.sampo.com

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Source: Sampo Oyj via Globenewswire

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